Market Index Edges Higher as 54 Nigerian Stocks Rally
The market index, or the Nigerian Exchange (NGX) all-share index (ASI), edged higher slightly on Wednesday as 54 stocks rallied in the local bourse against 24 decliners.
Trading activities tightened with some portfolio adjustments ahead of the looming fourth quarter of financial year 2025 earnings release.
Stockbrokers said early rally slowed down as the market began to weigh the segment where additional value will be created—with investors targeting dividend aristocrats in the Nigerian bourse.
Trading data showed that the All-Share Index edged up 0.01% to settle at 166,267.60 points. Market capitalisation gained ₦6.9 billion to reach ₦106.44 trillion.
Trading metrics showed mixed results as share volume rose 3.43% to 822.74 million units and transaction value surged 24.81% to ₦24.93 billion, while deal count fell 4.10% to 43,548 transactions.
Market breadth remained favourable at 2.25x as trading data obtained from the domestic bourse revealed that 54 stocks rallied, outpacing 24 decliners.
Top gainers include MCNICHOLS, NCR, RTBRISCOE, JAIZBANK, and MAYBAKER. Investors, however, booked profit in counters like UPDCREIT, CHAMPION, NSLTECH, WAPIC, and ETI.
Sectoral activity was divergent: industrial led gains with a slight 0.09% rise, followed by consumer goods increasing 0.03%.
Conversely, Insurance topped decliners with a 1.01% fall, Oil & Gas dropped 0.94%, Commodity declined 0.42%, and Banking slipped 0.27%. First HoldCo Names New Boards in Non-Banking Subsidiaries
